Clients sometimes ask what is the difference between cash bail or bail bond? There isn’t much difference except for the required bail bond premium on a bail bond. After all, a bail bond is considered cash and a guarantee the defendant will appear in court for the underlying criminal charges.
For example, Mr. Smith wants to post bail for his son William in the amount of $10,000.00. If Mr. Smith has the $10,000.00, he may deposit this amount with the court for his son’s release. Once William has complied with the court and is sentenced, the judge will make a court order for the bail refund. The accounting department for the court will then issue a bail refund to the depositor which can take 4-12 weeks to receive.
In the example given above, Mr. Smith did not need the services of a bail bond company because he had access to the total amount of bail monies in either a checking, savings, or possibly a retirement account. By putting up the bail money himself, he avoided the underwriting process of the bail bond and having to pay a bail bond premium.
Unfortunately, many people do not have large amounts of money saved for such unforeseen emergencies or circumstances. Others can’t get quick access to this money due to a weekend, holiday, or bank’s policy. These reasons are why many people decide to use a bail bond company.
Using the services of a reputable bail bond company provides convenience and a temporary solution to an unexpected problem. More importantly, it allows an individual to continue employment and avoid any interruption in lifestyle. Yes, the co-signer is required to pay a bail bond premium and qualify for the bail bond, but the process is not time consuming nor difficult. Besides, we are available 24 hours to assist you in the release of a friend or family member.
So, cash bail or bail bond? Honestly, if you have the money for the entire amount of bail and you don’t need the funds in the near future, put it up with the criminal court and skip the middle man. Otherwise, call the local bail bond company, day or night, and have your loved one released in the shortest time frame possible.